Every couple of months or so I get an e-mail from someone who has come up with the bright idea of setting up a Google Maps application that lets people pay them to own virtual real-estate on their created map. For some reason I'm not overly keen to promote these get-rich-quick schemes on this blog.
When I first heard about GeoSweep a few weeks ago I have to admit that I was a little dubious about the idea of holding a lottery using locations selected from a Google Map. GeoSweep is a UK nationwide game that involves users buying locations with a 10p stake. These plots are then entered into two daily draws, the first pays out a guaranteed minimum prize pot of £5,000 and the second gives players the chance to win £1 million.
Some of my concerns about GeoSweep have been assuaged by the success this start-up has had in attracting investment. GeoSweep has so far managed to raise over £2 million in investment and have put together a team of 15 who are now working out of their offices in London.
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